On October 20th, 2024, the Ontario government’s Provincial Planning Statement, 2024 (PPS 2024) came into effect, aiming to streamline the province’s land use planning framework. This new policy replaces both the Provincial Policy Statement, 2020, and A Places to Grow: Growth Plan for the Greater Golden Horseshow, 2019. It serves as a crucial planning tool designed to simplify existing policies while introducing key changes to support the province’s ambitious goal of building at least 1.5 million homes by 2031. These changes include policies focused on facilitating the development of employment land and enabling municipalities to unlock additional land for development.
In this episode, Alex Nisenker, VP of Private Capital Markets, sits down with CEO Sasha Cucuz to explore the implications of these policy changes on the development landscape. They delve into the critical question: Will these changes be enough to address Ontario’s current housing challenges? They also discuss how these changes will impact our firm and the broader industry’s ability to deliver more housing. Beyond the policies themselves, they examine the challenges that must be overcome to accelerate housing supply, and the role the private sector plays in driving this dynamic.